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According to a recentWalletHub survey, 58% of Americans admit to concealing financial matters.
If your partner has debts you are unaware of, for example, this could derail your retirement plans.
For women especially, prioritizingindividual financial securityis key, Gunderson said.
Life is unpredictable, and having your own financial safety net ensures youre protected, no matter what happens.
Retirement accounts are secure, she said.
Your partner cant access it, so its not like its a joint account.
Start by sharing account visibility with your partner using tools like eMoney, Mint or Empower.
If one partner hesitates to share access, it may be a red flag worth addressing.
For added transparency, consider reviewing your credit reports together.
It can also help you catch signs of financial infidelity.
See if any credit cards were opened in your name, Thompson said.
Thompson said tax time is aparticularly good opportunityto review your finances together.
They need to understand where all their incomes coming from.
Be a Part of Your Familys Financial Planning
Dont leave financial planning solely to your partner.
Its essential for both partners to stay engaged in financial planning, Gunderson said.
You should also communicate regularly about financial goals.
Have honest conversations: How much are we putting toward retirement?
Are we meeting our goals?
If something doesnt feel right, ask questions.
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